Ledger Hardware Wallet Hit by Supply Chain Attack, Allegedly Involving $86 Million in Stolen Crypto Assets
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Ledger is investigating thefts from multiple users' hardware wallets, with an unverified estimate topping $86 million; every affected device was purchased from a single Malaysian reseller, putting the industry's faith in cold storage directly to the test.
What exactly happened?
Blockchain investigator Specter disclosed on X that suspected losses exceed $86 million across hundreds of wallets — but the figure has not been independently verified.
Stolen-fund trails span Bitcoin, Ethereum, and Tron, pieced together from user reports on X and Reddit.
Ledger confirmed an active investigation but declined to comment on the specific theft method.
Where in the chain did it break?
Ledger confirmed every affected wallet was bought through CryptoBilis, a Malaysian reseller. This means → the breach likely sits in the distribution link, not Ledger's own production line.
In plain terms = someone may have tampered with the devices after they left the factory but before they reached users.
Ledger has asked CryptoBilis to halt all device sales and shipments. CryptoBilis has not responded to media inquiries.
What should affected users do now?
Devices bought from CryptoBilis in the past 90 days and not yet activated: Ledger advises not to use them.
Devices already in use: users should consider moving assets to a different wallet.
Whether the individual cases are connected remains unknown — Ledger's investigation is ongoing.
What does this mean for cold storage as a whole?
Hardware wallets — physical devices that store private keys offline, isolated from internet attacks — have long been considered the safest way to hold crypto.
This reflects a deeper risk: a secure device does not guarantee a secure device in your hands — the supply chain is the weak link.
Earlier this year, hackers stole over $100 million in Bitcoin from wallets custodied by Canadian firm Coinkite. Together, the two incidents force the industry to answer a hard question: has the supply chain become a systemic attack vector for hardware wallets?
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